ED Freezes ₹335 Crore Assets in Unitech Money Laundering Scandal

The Enforcement Directorate attached ₹335 crore worth of assets tied to Unitech and Sahana Builders under the Prevention of Money Laundering Act. Investigations by ED revealed illegal fund diversions amounting to ₹7,612 crore, with numerous assets seized from domestic and overseas ventures.

The Enforcement Directorate (ED) has taken decisive action by attaching assets valued at Rs 335 crore from Unitech International Realty Fund and Sahana Builders Private Limited. These actions fall under the provisions of the Prevention of Money Laundering Act (PMLA), 2002, as reported by the agency on Tuesday.

The attached assets include land rights in Agra, Varanasi, Mohali, and Chennai, totaling Rs 319 crore linked to Unitech. Furthermore, Rs 16 crore in fixed deposits, representing funds diverted to Sahana Builders and owed back to Unitech, have also been frozen according to the ED's statement.

The ED's investigation, initiated from FIRs filed by Delhi Police and CBI, unveiled how the Chandra family's Unitech Group misappropriated funds amounting to Rs 7,612 crore. The funds, funneled through personal firms Auram Asset Management and Uniwell Limited, were traced back to real estate projects, resulting in substantial asset seizures across domestic and international fronts.

(With inputs from agencies.)